The U.S. Court of Appeals for the Fifth Circuit issued an opinion late on December 26, reinstating the nationwide injunction against the enforcement of the Corporate Transparency Act (CTA). This decision once again places the January deadline for covered businesses to register their Beneficial Ownership Information (BOI) on hold. The Court indicated that a final ruling on the matter is forthcoming, confirming that no filings are required until a decision is reached.
This whitepaper outlines key considerations in wealth management, including investment strategies, income tax planning, estate planning, charitable giving, and retirement planning, tailored for UHNW clients.
On December 3, 2024, a federal court in Texas imposed a national injunction against the Corporate Transparency Act (CTA), prohibiting the federal government from enforcing the CTA.
There is a presumption under the law that when a Will is destroyed, the Testator (i.e., the person who created the Will) intended for it to be destroyed. But what happens when an original copy of a Will (or a Revocable Trust) is accidentally destroyed or lost?
The SECURE 2.0 Act of 2022 (SECURE 2.0) enacted on December 29, 2022, specifically Section 331, amended the Internal Revenue Code and added special rules for use of retirement funds for individuals impacted by qualified federally declared disasters.
What It Means for You The Corporate Transparency Act (CTA) The Corporate Transparency Act (CTA), effective on January 1, 2024, introduces significant reporting requirements with far-reaching implications for business owners, high-net-worth individuals, and their...
What the Proposals Mean for Ultra High Net Worth Individuals As the 2024 presidential election approaches, tax policy has taken center stage, particularly for ultra high net worth (UHNW) individuals with significant wealth. Both candidates, Kamala Harris and Donald...
To address concerns around leftover funds and to expand upon the potential avenues for funding and utilizing 529 plans efficiently, we have compiled this report to delve into potentially optimal strategies for high-net-worth investors to leverage 529 plans effectively.
A Required Minimum Distribution (RMD) mandates that individuals who reach a certain age are obligated to start taking minimum distributions from their tax-advantaged retirement accounts.
As we approach the end of another year, this whitepaper serves as a comprehensive guide to strategic year-end planning…